Compare boat insurance quotes and connect with a broker today
Looking for cheap personal watercraft insurance? Speak to a licensed RH Insurance broker today, so you can secure the coverage you need.
schedule a callGreat Rates & Better Service
Great rates and even better service. I've been buying insurance for years but never had a rep as responsive and efficient as Amith at RH. Very refreshing experience to have smart informed options at competitive prices delivered by a knowledgeable and friendly rep. Thank you
J. Masse
Google Reviews - February 2025
The Best Insurance Company
The best Insurance company I have ever encountered. Amith Patil, the best broker. Very professional, no sugar coating, straight to the point. He worked on my policy at no time at all. He is really good at what he does. Thank you, Amith Patil and thank you, RH Insurance. Thumbs up to you, Mr. Patil!
James
Google Review - February 2025
2 Thumbs Up 👍👍
Morgan responded very quickly to an online quote request, then just as quickly to write and bind the policy after my approval. Great customer service and highly recommended. Two thumbs up 👍👍
Robert
Google Reviews - February 2025
How to get an RH Insurance policy
Step 1: Contact our brokers
Call 1-888-616-1868 to speak with one of our licensed marine insurance brokers.
Step 2: Share some info
Provide us with a few details and receive customized boat insurance quotes from our top providers.
Step 3: Finalize your policy
Select your lowest rate and secure the personal watercraft insurance coverage you need.
What you need to know about boat insurance
Morgan Roberts, Director of Sales - RH Insurance
Boat insurance protects your personal watercraft – such as your sailboat, motorboat, or yacht – financially against risks of damage and loss. It can also cover you if you’re held liable for injuring another person or damaging their property while operating your vehicle.
So is boat insurance required? Generally speaking, boat insurance isn’t required by law unless it’s stipulated by the marina or your financier. Despite so, it’s always a good idea to protect your investment from risks, such as collision and theft. And if you’re ever sued for property damage or bodily injury, you could be in deep financial trouble without the right policy in place.
While some home insurance policies provide some protection for boats, it’s a good idea to purchase marine insurance separately to ensure you have adequate coverage in place. Your home insurance premium could increase substantially after making a boat claim, and there are usually many stipulations and exclusions on your homeowner’s policy.
What does boating insurance cover?
Every boat insurance company is different. While one provider may have a full package of coverages included on a standard policy, you may need to purchase additional endorsements for a customized policy with another. Here are the different types of boat insurance you can ask your broker about.
Your boat
Liability
Medical benefits
Personal belongings
Emergency towing
Loss of use
Pollution and wreck removal
Navigational extension
Trailering
How much is boat insurance in Canada?
While boat insurance rates differ on an individualized basis, you can expect annual coverage to cost about 1.5% of your watercraft’s total value. To find the exact premium you’ll be paying, be sure to connect with one of our licensed brokers today.
get a quoteHow to get cheap boat insurance in Canada
Multi-policy discount
Purchasing your auto, home, and boat insurance under the same provider can bring large rate reductions.
Group discount
Members of certain corporations and clubs often receive boat insurance discounts, so be sure to ask your broker.
Marine training discount
Completing an approved boat training course often comes with discounts on your coverage.
Factors that impact your personal watercraft insurance rate
Type of boat
The type of boat you’re looking to insure can influence the cost of your insurance greatly – a motorboat comes with a different set of risks when compared to a sailboat. In general, the less risk your vehicle brings, the cheaper your premium will be.
Value, length, and age of boat
The more expensive your boat is to repair or replace, the more you’ll be paying to protect it. If your boat is on the older side, you may also be asked to complete a boat survey by your insurer.
Location
Charting your boat in the ocean versus charting in a quiet lake brings different levels of risks, therefore factoring into your boat insurance premium. Areas without coastlines also tend to come with cheaper rates as it limits the risk of a damage claim.
Marine training
By graduating from an approved marine training course, you not only earn points for safety, but many insurance providers will offer you a discount.
Past claims history
Having numerous boat insurance claims from your past isn’t a good look to insurers, so you could face a large rate hike. On the other hand, a clean history comes with cheaper rates as it shows providers you’re low-risk to insure.
Boating experience
A boater with a decade of experience navigating the waters won’t be paying the same premium as a brand new boater – the less risk you bring, the cheaper your boat insurance rates will be.
Boat usage
The more you take your boat out on the water, the more expensive your premiums will be. And the activities you use your boat for, as well as how you store it, also make a difference when it comes to shopping for insurance.
Driving history
Did you know some insurance companies also look at your driving history when calculating your boat insurance quote? A clean driving record hints to insurers that you’ll likely be a safe boater too, lowering your watercraft’s coverage rate.